The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

Business

Why orange juice is so expensive

by admin August 1, 2024
August 1, 2024
Why orange juice is so expensive

U.S. orange production has plummeted as the industry faces volatile threats from extreme weather events, an incurable disease and economic pressures.

Citrus growers are losing millions of dollars every year, according to the United States Department of Agriculture. 

At the same time, orange juice futures have hit record highs.

“Citrus production in the United States [is a] pretty dire situation right now,” Daniel Munch, economist at the American Farm Bureau Federation, told CNBC. “When you have a lack of supply that’s unable to meet demand, prices for consumers shoot up.” 

Florida has seen a dramatic orange production decline in recent years. According to the USDA, there were over 658,000 orange acres in Florida in 1998. As of 2023, there were just over 303,000 acres of oranges planted in Florida, or a total acreage drop of more than 50% in just 25 years.

A large part of the problem can be traced to the spread of citrus greening disease, which is considered to be one of the most serious plant diseases in the world that is currently incurable.

“When citrus greening starts to enter the grove, it reduces the productivity of those trees, ultimately forcing them into death, and then therefore removal from the grove,” Amy O’Shea, CEO of Invaio Sciences, an agricultural sciences company, told CNBC.

The problems plaguing citrus production are not easily remedied as climate change has made extreme weather more common and scientists have yet to come up with scalable citrus greening treatments.

Some of the key research areas include fruit breeding for citrus greening-resistant varieties, antimicrobial treatments and other pest control solutions, like crop covers. 

Invaio is one of the companies researching and developing treatments for citrus greening.

“We’ve developed a very unique precision delivery technology called Trecise, that we’re able to insert into the tree and deliver a very reduced amount of an antimicrobial, “O’Shea told CNBC.

When Trecise is inserted into a tree, the active ingredient goes into its vascular system as opposed to being applied outside of the tree, according to O’Shea.

In August 2023, Invaio’s Trecise received emergency approval for use from the Florida Department of Agriculture and Community Services.

The volatility of these threats may cut into citrus harvest expectations, which leads experts to believe that higher prices for orange juice are likely to remain, at least in the short term. 

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
McDonald’s says $5 value meal sales are hot as consumers feel ‘pinch’ of inflation
next post
Private payroll growth slowed to 122,000 in July, less than expected, ADP says

Related Posts

Klarna lands buy now, pay later deal with...

March 21, 2025

Stock splits are back in fashion. Here’s why,...

June 17, 2024

Tesla will lay off more than 10% of...

April 17, 2024

Renewable energy demand could triple as electricity consumption...

July 25, 2024

Tesla job cuts heighten Wall Street concerns that...

April 18, 2024

Millennials reimagine retirement: ‘The end game might not...

February 5, 2025

UnitedHealthcare sued by shareholders over reaction to CEO’s...

May 9, 2025

FCC is investigating Disney and ABC for DEI...

March 29, 2025

Can Starbucks fix long lines at its airport...

November 26, 2024

Women’s Tennis Association extends media rights deal with...

June 27, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • The Real Drivers of This Market: AI, Semis & Robotics

      August 31, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      August 31, 2025
    • Epstein estate to hand over ‘birthday book’ to lawmakers, House Dem says

      August 31, 2025
    • Dyan Cannon denied White House entry after lying about her age on passport documents

      August 31, 2025
    • Israel eliminates Houthi prime minister in Yemen airstrike targeting senior government officials

      August 31, 2025
    • Sen. Bernie Sanders calls on RFK Jr. to resign following departure of CDC officials

      August 31, 2025

    Categories

    • Business (1,370)
    • Politics (4,370)
    • Stocks (1,619)
    • Uncategorized (45)
    • World News (1,363)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved